Chemical tanker spot rates. Monthly Chemical Tanker & Palm Oil Report.

Chemical tanker spot rates LIQUID RATES STEADY Overall, US chemical tanker freight rates were largely stable this week for several trade lanes, with the Overall, US chemical tanker freight rates were softer this week for several trade lanes, in particular the USG-to-Brazil and USG-Asia trade lanes as spot tonnage remains readily available. All tanker fixtures are then quoted relative to this worldscale rate. During the quarter, we sold and redelivered 4 vessels. 24/7 Access to specialized liquid bulk agents. 1-Yr TC Rates; Asset Prices; Spot Rate Graphs; Add to Cart. IN 2021, CONTAINER FREIGHT RATES ARE SKY-HIGH, BUT IN 2022 Spot freight rates also surged across routes in developing regions. When crude oil prices increase, VLSFO prices increase more sharply than HSFO, widening the price gap between the two. Shipping’s Half Year Report. However, in the long-run period Braemar ACM Shipbroking and Womar Tanker Pools have jointly launched what they claim to be the industry’s first online earnings index for J19 tankers. 1000 USD. Gulf to Agriculture & Food Biofuels Chemicals Fertilizers Clean Energy Technology Gas & Power Crude Oil Fuels & Refined Products LNG Steel & Metals Upstream & Midstream The latest in tanker freight and fixture rates, giving you a full view of the most important developments, so you can effectively analyze the tanker m In this brief paper, we will examine the reasons why and the potential for continued strength in spot charter rates for aromatic petrochemical products, like benzene and paraxylene. Calculated freight rate is set at worldscale (WS) 100 for that route. The Baltic Exchange provides a complete picture of the tanker market through our daily physical and forward assessments, weekly Sale & Purchase and vessel recycling data, and quarterly benchmark of operating costs. Chemical-Tanker-Market News: Malte Willer To Lead E&S Tankers, NYK Group, Stolt Tankers, And ENEOS Ocean Unveil Chemical Ship Pool Business, Stolt Tankers Buys Spot rates collapsed in the High prices relative to traditional measures of value; The orderbook for chemical tankers stood at about 6% of the existing fleet at the beginning of the year and by now, has reached 9%, while the existing fleet itself has expanded by about 2. A monthly evaluation of market activity in the spot and period charter markets among key trading routes of the chemical and palm oil shipping sector. KOREA-SING 40k, Indice, TC12 Naptha Sikka (WCI) > Japan HANDY 35k, Indice, TC14 U. View More. Read more Clarksons has argued the moves have kept a lid on product tanker rates, with LR2s earning $38,000 per LPG: VLGC spot earnings rose 53% to $54,088/day, on the back of improving exports from key supplier regions and impacts from vessel delays in some regions. They are small in size between 5,000 and 25,000-ton deadweight, while there are also several chemical tankers which have a size of about 50,000-ton deadweight. 14 December 2024 Another strong year for spot tanker rates in 2024 with a balanced market expected in 2025. Table 1 Forecast of GDP Growth Rates, By Key Country, 2016–2022 Table 2 Market Share of Chemical Exports, By Key Country, 2016 The report takes an in-depth look at the chemical, lube oil and edible oil freight markets, focusing on the underlying trends in each trade lane, freight rate developments, product flows, bunker prices, spot fixtures, time-charters and S&P transactions, industry and market news, plant outages and new projects, global economic developments as the tanker market however, freight rates soared because of the war in Ukraine. Worldwide demand for organic chemicals is expected to rise faster at a CAGR of 8% over the LIQUID TANKER RATES Overall, the US chemical tanker freight rates were unchanged this week for several trade lanes, except for the USG-Asia trade lane as spot tonnage remains tight. Based on the fleet size type, the market is further segmented into inland chemical tankers (1,000-4,999 DWT), coastal chemical tankers (5,000-9,999 DWT), and deep-sea chemical tankers (10,000-50,000 DWT). 7 9. 9% amides, and alcohols, and the growing demand for bio-based lubricants is expected to propel the segment growth rate. 11 Billion by 2022. This long-neglected 1,000-dwt to 6,000-dwt sector has been one of the fastest ageing in the tanker fleet. The global chemical tanker market is valued at US$ 15 billion in 2023 and is predicted to reach a market size of US$ 31 billion by the end of 2033. 3Q23 Odfjell Group | Page Product tankers have also enjoyed a strong increase in freight rates, as measured by the Baltic Exchange, whereas weakness for both Aframax and Suezmax has kept a lid on the Baltic Exchange index for crude tankers. The company’s strategy is to serve spot-market oriented Commercial Pools of Navig8 Group & Odfjell. Chemical Tankers: Term rates rose firmly through 2022, benefitting from reduced competition from swing tonnage amid the very strong clean products market. Overall, US chemical tanker freight rates was largely stable this week for several trade lanes, with the exception being the USG-to-Brazil trade lane as Orders for small chemical tankers have surged as rates spike, according to UK shipbroker SSY. ‘Eye-watering’ rates fuel unprecedented boom in small chemical tanker orders, SSY says Published 20 November 2024 10:57 GMT Tankers Tanker owners rein in asking prices as rates curb investor SANTIAGO (ICIS)–Chemicals tanker prices have risen globally 30-75% in the past four years on a lack of liquidity, an expert at Chile-headquartered chemicals bulk operator Ultratank said on Tuesday. Understanding the demand for all sectors of specialised tonnage, spot or CoA, is fundamental to delivering bespoke and tailored tonnage procurement solutions across the chemical tanker market. These are likely to increase further, and experience more fluctuations due to factors including geopolitical tensions and concerns surrounding energy security. In the spot market, rates came down towards the end of 2Q23 in line with seasonal effects, but as activity picked up again after the summer we saw Chemical tanker spot earnings index (midcycle = 100) Source: Clarksons Platou-7. High rates in the tanker market continued to attract a number of swing chemical/oil carriers into the products . Gulf to UK/CONT HANDY 38k, Indice, TC1 AG > JPN LR2 75k, Indice, TC2 UK/CONT to USAC MR 37k, Indice, TC2 - 37k - Rotterdam, New York, TC3 CARIBS > USAC MR 38k, Indice, TC4 Singapore to Japan Niels Stolt-Nielsen is turning down longer-term charter business to keep his chemical tankers ready to capitalise on rising spot rates. transportation forecast that April likely was the low point of the downcycle in spot rates, but elevated Class 8 build rates will limit the near-term upside. 18 chemical tank terminals through owned and related parties. Tankers and Terminals combined gives competitive advantage. 5% from 2023 to 2033. Gas Shipping LNG Shipping LPG Shipping. About. “With product tankers continuing to split their time between the CPP market and chemical and edible trades, MSI expects earnings for The price differential at present ranges from $100 per tonne to $150 per tonne; we assume it to be $100 per tonne for our calculations ahead. our latest view on headline rates for the spot and time charter market and unit freight It is worth bearing in mind however that tanker rates are rising from what remains very low levels. 6 6. LIQUID CHEM TANKER RATES US chemical tanker freight rates assessed by ICIS were mostly unchanged but fell from the US Gulf (USG) to ARA. But that does not necessarily mean they will recover The Clarksons Securities shipping team has made a bold prediction of further increases in tanker rates during 2023. On the China to South America (Santos) route in December 2019, the average rate per TEU was Each tanker route is calibrated for an assumed ship size and cost structure. Chemical Tankers Market is projected to reach USD 33. Standard spot cargo size European freight rates assessments are based on a parcel of 2,000 tonnes of an Easy Chemical, typically solvents, aromatics, alcohols or caustic soda. ” “Some smaller subsegments, such as chemical tankers and some smaller product tankers, were successful The oil prices in tanker freight markets were also explored in (Gavriilidis et al. Spot assessments of TCE earnings on nine Understanding freight rates in the oil tanker industry is crucial for shipowners, charterers, oil companies, and traders involved in the global transport of crude oil and refined products. Stronger balance sheet Drewry expects spot rates to be relatively stable this week. Ocean freight spot market rates Benchmarking ocean freight contract rates Market forecasts by sector. 12,300 14,200 12,200 33,200 35,900 40,000 36,600 37,400 44,700 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 SSY Research provides market intelligence across the Tankers, Dry Cargo, Gas, Chemicals and Offshore sectors. We took delivery of one vessel; a sophisticated super-segregator on long term time charter agreement. “If these increased volumes need to be moved on the spot market, then it is going to put upwards pressure on rates. 9% ' Sub-categories may not sum up to total volume due to rounding-1. Time charter rates for chemical tankers have doubled after charterers baulked at paying eye-watering contract of affreightment (COA) rises. In 2015, most shipping segments, except for tankers, suffered historic low levels of freight rates and weak earnings, triggered by weak demand and oversupply of new tonnage. Includes in depth discussions of tanker market and oil market fundamentals, fleet data, ordering activity, demolition, spot tanker rates, time charter rates, tanker prices, FFAs and more. Standard and specialized chemical tanker equipment available for custom pricing. It has been a half year of robust cross-market strength for the shipping industry, with our ClarkSea Index up 6% y-o-y ($25,498/day, 43% above the ten year trend) and the bulkcarrier and container sectors joining “energy” shipping in positive territory. for second-hand tankers have risen sharply on the back of strong returns in the spot markets as well as tonnage illiquidity. Record chemical tanker rates to go even higher, Stolt Tankers says World’s largest specialist operator increases rate guidance for second quarter 12 June 2024 7:33 GMT Updated 12 June 2024 10:40 GMT Individual news pages. Whether you are a Shipper (commodity trader, freight trader, FMCG/manufactured goods shipper), a Carrier (shipowner, ship operator) or provide other services within the supply chain (ship broker, analyst, risk management, financial institution), Chemical tanker markets are taking shape nicely this year as fleet utilisation and rates rise. 5m for violations of US pollution laws and obstruction of proceedings. Time charter rates have remained near the highs of 2022 and second-hand ship prices have continued to increase. Underlying Explore the latest news on the tanker sector, crude, product and chemical tankers, LNG and LPG carriers, freight rates and fleet developments, brought to you by the editors of Seatrade Maritime News Crude tankers cleaning up to trade products lopped off approximately $17,000 per day from LR2 spot rates in the third quarter, according to Clarksons. Average earnings for eco ships remain strong this week at $47,400 per day Chemical Tanker Market Growth Outlook for 2023 to 2033. Daily Tanker Market Rates; Daily Bunker Report; Cheapest Bunker Port Matrix; Weekly Shipbrokers Reports; 11/09/2024 Comments Off on Weekly Tanker Time Charter Estimates, September 11 2024. While high freight rates and tight tonnage availability Current freight rates in %Ws which are calculated from all dirty spot fixtures for which rates were reported during the month. Current Index. The tanker market enjoyed a dramatic turnaround in fortunes in 2022 as the Russian invasion of Ukraine and resulting sanctions saw spot rates ramp up and a redrawing of trade flows, but will the Drewry expects spot rates to remain stable over the coming week. 3 0 2 4 6 8 10 12 14 16 y TNK Quarterly TCE Rates Source: Teekay Tankers Aframax Suezmax. Various benefits of the IMO 2 chemical tankers, such as corrosion Its average freight rate of $33,355 per day was up from $32,862 in the second three months. A weekly evaluation of spot activity for chemical tankers cross AG and AG-Eastbound trading routes. The dramatic spike in earnings has Quotes based on spot market freight rates. Tanker and Dry Cargo Markets. Change “We anticipate that this scenario could play out in the first half of 2024, given the positive outlook for both product and chemical tanker spot rates,” the analysts added. Drewry AIS Analytics > Maritime Financial Research. Trusted data for tankers. Though the spot markets for both crude and product tankers have suffered reductions during 2023, and crude tankers especially have seen significant volatility, both markets have remained attractive. . Benchmark Crude Tanker Spot Rates VLCC Suezmax Aframax 0 10 20 30 40 50 60 y TNK’s Third Quarter Average Mid-Size Tanker Rates Q3-22 saw the highest mid-sized third quarter spot tanker rates in 14 years. Our spot MR voyages booked over the last two weeks have averaged $15,300 / day and our chemical tankers $17,400 / day, while Eco-Design MR one-year TC rates have improved to $15,500 / day, and the Chemical tanker spot rates improved compared to previous quarter. They represent an IMO Individual news pages. Previous versions of this methodology can be found under Archived Documents. 62 billion by 2032 at a CAGR of 4. In some circumstances, rates for certain vessel types are based on theoretical assumptions of premium The ICIS Chemical Tanker Shipping Report is published weekly on the shipment of chemicals loading from Europe, the US and Asia. Includes topic of the week, freight commentary, ore Tanker Freight Rates - determinant driven, route-specific Markov regime-switching models Eivind Hjertaker Molvik Martin Salte Stafseng Industrial Economics and Technology Management Supervisor: Sjur Westgaard, IØT Department of Industrial Economics and Technology Management Submission date:April 2018 Norwegian University of Science and Technology Teekay Tankers’ Market Update, December 2024. Growth should then slow considerably, decreasing by 1 percent in 2020. Since first appearing in 1965, the ASB has become one of the energy industry’s most authoritative compilations of oil related data, and a key reference tool for analysts, researchers, policymakers and industry experts the world over. Despite a significant fall in trade volumes in January –down by close to 30% on 2023 monthly averages – there has been ‘a stunning spike’ in clean tanker rates, according to the latest US chemical tanker spot rates were overall steady this week for most trade lanes, while vessel demand continues to remain soft for various routes. TANKER Handy TANKER MR IMO3 TANKER LR1 TANKER LR2 TANKER Panamax TANKER Aframax TANKER Suezmax TANKER VLCC; Swaps Clean 37 k Clean 38 k Clean 55 k Clean 75 k Dirty 135 k Dirty 80 k Dirty 130 k Dirty 260 k; versus $/day versus $/day versus $/day versus $/day versus $/day versus $/day versus $/day versus $/day; INDEX 7TC LIQUID CHEMICAL TANKERS Liquid chemical tanker rates from the US were stable to softer, with slight decreases on the US Gulf to Asia trade lane and the US Gulf to the Caribbean. HOUSTON (ICIS)–Average global rates for shipping containers continue to surge, liquid chemical tanker rates ex-US Gulf were mostly softer, and work continues to reopen the Port of Baltimore, highlighting this week’s logistics roundup. Weight. 0 12. The average time-charter equivalent (TCE) earnings for the trade lanes MSI tracks increased 13% month-on-month (m-o-m) to US$27. The ability to push up rates to maintain US$/day spot earnings suggested that tightening supply/demand balances were beginning Benchmark Crude Tanker Spot Rates VLCC Suezmax Aframax 10. Unit. Norwegian chemical tanker player Odfjell has shrugged off a dip in its net earnings in the third quarter of its 2024 financial year, claiming that while freight rates come down as predicted from Tag: Tanker. The fluctuating rates increased for shipments from the US Gulf (USG) to Brazil and India, decreased from the USG to ARA, and remained steady on other routes. 5%. Spot rates improved by 16% in main trade lanes compared to previous quarter. Download. it is commonly used in spot markets where rates fluctuate frequently based on oil prices, seasonal demand, and geopolitical events. The chief executive of Oslo-listed group Stolt-Nielsen said Tanker rates tumble on key route as China cuts crude purchases Odfjell plans to buy seven chemical tankers in the coming year. Read why I continue to rate ASC stock a Buy. 1 Correlation between Chemical Tanker Cargo and GDP Growth Overview of Chemical Tankers Sources : Clarksons Chemical Tanker Market Outlook prepared for Fairfield April 2024 China Import Crude Oil Tanker Freight Index(CTFI) Trade Routes Description: Tons. This was partly offset by fewer revenue days compared to 4Q18. The cargoes they carry often, present tremendous challenges and difficulties from a safety point of view and many chemicals are also a far (Bloomberg) -- Spot rates for hauling crude on the largest vessels from the Middle East to China, a benchmark route, have sunk by a third this year as demand in the top importer slows and OPEC+ LR2 product tanker rates jump $17,000 per day as European demand grows Brokers and analysts note big earnings jump due to Russia sanctions and China lockdowns 6 May 2022 9:59 GMT Updated 6 May Chemical Tankers: Term rates rose firmly through 2022, benefitting from reduced competition from swing tonnage amid the very strong clean products market. Detailed market share statistics, penetration, and shifts in demand for different types Current freight rates in %Ws which are calculated from all dirty spot fixtures for which rates were reported during the month. The Global Chemical Tankers Market is expected to reach USD 29. 2 10. HOUSTON (ICIS)–Global shipping container rates are starting to moderate, the Panama Canal expects to increase transits in May, and liquid chemical tanker spot rates are mixed, highlighting this week’s logistics roundup. SSY hires broker and analyst in quest to build up chemicals business Published 23 December 2024 14:13 GMT Tankers Hope for VLCCs and aframaxes as tanker rates volatile Crude tanker owners are enjoying a dream run in charter rates as stretched voyages due to the Russia-Ukraine War and the Red Sea crisis have tightened the market, especially the mid-size tanker segments. Players report many vessels trying to get the firming spot markets for chemicals and CPP. The 1yr TC for a 19,999 dwt ship Tanker Shipping Chemical Tankers Crude Tankers Product Tankers. 8 14. Drewry was appointed to provide a study of chemical tanker shipping market and forecast time charter rates The owner so far has 61% of spot days fixed at $34,093 per day for VLCCs in the third quarter, and 49% of suezmax days booked at $41,041. Western tanker owners set to benefit as price Norway’s Stolt-Nielsen has posted a rise in profit as chemical tanker rates hit new highs. From the USG to Rotterdam, there are bits of part cargo space still available for April. TC10 BITR-ASIA CPP/UNL S. Argus time charter equivalent (TCE) rates for LR2s from the Mideast Gulf to Japan rose by about 25pc from 17 April to $43,447/d on 21 April, compared to a 13pc rise on Tanker freight rates continued their upward trend in 2023. Chemical Tankers Chemical Tankers (USD mill) 3Q18 4Q18 1Q19 Drewry expects spot rates to remain stable over the coming week. Since most chemical tanker cargoes consist of raw materials for consumer goods, transportation demand has historically exhibited growth rates comparable to GDP. Daily Freight Rate Assessments A daily transmission of tanker spot rates and TCE revenue calculation for 45 major trades . Clarksons Platou Securities said the fleet has averaged $18,000 per day on the spot market so far in LIQUID TANKER RATES Overall, the US chemical tanker freight rates were unchanged this week for several trade lanes, except for the USG-Asia trade lane as spot tonnage remains tight. FREIGHT RATES AND TRANSPORT COSTS 61 A. 4 Other 160 96 5 0 131 39 431 0. July 4, 2024 Stephen Gordon. The company was predicting rates of around $14,500 to Liquid chemical tanker spot rates showed mixed trends, with US chemical tanker freight rates. A weekly report focussing on the dry bulk market. Overview . In the short-run period, tanker market is an independent sector. J19 vessels refers to stainless-steel chemical tankers between 19,000 dwt and 22,500 dwt, which are the workhorses of deepsea chemical shipping. General Shipping. 0% year-on-year in both 2024 and 2025. Chemical tankers Metrostar Management’s 116,000-dwt LR2 tanker Prostar (built 2019). While spot Chemical tankers are among the most complex ships ever constructed. Contract coverage reduced to 50% compared to 59% in 4Q18 as we did not aggressively pursue contracts at historically low rate levels. 3. liquid chem tanker rates stable US chemical tanker spot rates were overall steady this week for most trade lanes, while vessel demand continues to remain soft for various routes. In particular, freight rates on major long-haul routes came under severe pressure in the third Inflation and increasing distances to transport oil arising from sanctions on Russian barrels could contribute to a doubling of freight costs in 2023, Rustin Edwards, head of fuel procurement at tanke Many other players active in the chemical tanker market are reluctant to sail to other Black Sea ports and those who do, reportedly quote routes at considerable premiums. This all-basis limited spot activity to most Spot freight rates on the Asia to Europe trades showed a minor increase as European shippers enter into contract negotiations with the carriers. The report also includes newbuilding, TC10 BITR-ASIA CPP/UNL S. The market is forecasted to increase at a CAGR of 7. Avin said the misconduct was hid from the company and that ‘ neither the master nor any shoreside Tanker shipping rates are set to decline from current highs in 2016 with the forecast decline in crude oil trade due to ample stocking, and expected fleet expansion, according to the latest edition of Drewry’s Tanker Forecaster. KOREA 40k, Indice, TC11 BITR-ASIA S. Chemical tanker rates have reached their highest levels in at least eight years because of strong demand for chemicals and biofuels shipments, particularly those originating in Asia, and The Baltic Exchange provides a complete picture of the tanker market through our daily physical and forward assessments, weekly Sale & Purchase and vessel recycling data, and quarterly benchmark of operating costs. Analysts Frode Morkedal and Even Kolsgaard claim we will see ‘phoenix’-like VLCCs in the coming year as Specially, Joutz [9] examined the lead-lag relationship between oil prices and tanker freight rates, reflecting a relationship between spot and future crude oil prices, crude oil inventories and OUR SERVICES Ships Chartering “Well experienced Chartering and Operation Team specialized in Chemical, Oil and Gas Tanker”As reputable Shipowner and Commercial Operator with more than 40 years’ experience in the market, BLT provide its client with excellent quality of service for carriage of wide varieties of liquid bulk cargoes such as chemicals, oils, clean petroleum Nisshin Shipping’s 19,900-dwt Eva Gold (built 2022) — the world's first stainless-steel chemical carrier with dual-fuel LNG/diesel propulsion — sails in the Hansa Tankers fleet. ICIS Chemical Tanker Shipping reports are designed to provide a guideline for freight rates in the chemical tanker shipping sector. The efficiency of the chemical 05 Apr 2024: Currently, tanker asset prices are red-hot, with second-hand values and newbuilding prices at their highest levels in the last 15 years amid strong market fundamentals. Source: Drewry World Container Index, Drewry Supply Chain Advisors Our detailed assessment for Thursday, 19 December 2024. Far East–Mediterranean spot rates fell by 41 per cent, reaching $739 per TEU, a decline of 41 per cent, compared with rates in 2014, and almost 58 per This process began towards the end of 2019 and was matched by an increase in spot rates. Weekly Publications. Dry Bulk Shipping a weighted average of spot container freight rates, fell 6% to $879 per 40ft container in the final fortnight of 2024. Meanwhile, in S3, we assume crude oil prices will go much higher than the current prices. Overall, the US chemical tanker freight rates were unchanged this week for several trade lanes, except for the USG-Asia trade lane as spot tonnage remains tight. This all-basis limited spot activity to most regions and as COA nominations are taking longer than usual for the regular vessel owners. Data from Tankers International showed that Chevron booked Capital Ship Management’s 320,800-dwt Amyntas (built 2019) for a voyage to China at a rate that will fetch commercial operator Heidmar LIQUID TANKER RATES Overall, the US chemical tanker freight rates were unchanged this week for several trade lanes, except for the USG-Asia trade lane as spot tonnage remains tight. This week, shipowners are asking for around $25/tonne to move 3,000/tonne-sized liquid chemical tankers between Korea and mid-China, for H2 December/early January 2021 laycan dates, market sources said. Drewry’s assessment has rates to the East Coast about $700/40-foot equivalent units (FEU) higher than to the West Coast. The Oslo-listed group said a strong quarter to 29 February marked a solid start to 2024. 2024 has been another very good year for the spot tanker market with rates A detailed analysis and 5 year forecasts for the product tanker shipping market including: Assessment of product tanker freight rates; Spot rate forecast for key product tanker routes; Period rate forecast for MR1, MR2, LR1 and LR2 product tankers; Orderbook and fleet analysis, including IMO and non-IMO product tankers We forecast that crude tanker cargo volumes will grow 1. One-page formatting, along with historical graphs, allow for a quick and easy analysis of the rapidly changing market. While at Name Title Direct Mobile Email; Management: Tom Skare: Managing Director +47 55 92 32 75 +47 95 92 95 57: Email : Chartering: Ronald Olsen: Chartering Manager +47 55 92 93 42 Daily Tanker Market Rate Snapshot. All three reports focus on small chemical tankers Get the most important developments in the global dirty tanker market including: global freight rates, the latest tanker fixtures, information on proj A daily global picture of the physical Daily tanker brokerage report with tanker projects, prices, vessel sale & purchase and spot market rate assessments. We have restructured our tank terminal division since 2016. Freight rates for crude and products will see rapid gains in 2023 and 2024 — similar to 2008, when rates often exceeded $100,000/d — with demand growth outpacing tanker supply, according to shipping association Bimco. Welcome to the 59 th edition of the Annual Statistical Bulletin (ASB). Updated on a monthly basis. About 50-60% of earnings are covered by contracts and remaining spot. Chemical tankers are mainly used in two trades: For shipping of extremely hazardous oils (IMO I) and shipping of edible/vegetable oils as well as very clean oil products (IMO II / IMO III). ” LIQUID TANKER RATES US chemical tanker freight rates assessed by ICIS were mostly lower as rates fell from the US Gulf (USG) to Asia and from the USG to India. The pull of MR tankers into other trades has tightened the pure chemical tanker fleet and increased spot rates, driving improved TCE returns and supporting an upward earnings trajectory. Adrian Brown, head of chemical research at broker The client owned a fleet of chemical and product tankers deployed internationally as well as in Med, Black Sea, UK Continent and Italian Cabotage. 8 6. One exception is rates from the USG to the Mediterranean, which surged as interest to this region remains steady. Our tanker information is independent and underpins physical and FFA contracts. ICIS continuously develops, reviews and revises its methodologies in consultation with industry participants. In the second period, the VLCCs managed spot rates of Ardmore Shipping is well-positioned to benefit from an improving spot market for refined products and chemical tankers. Chemical tanker spot freight rates, one-year time-charter rates and asset prices hit new highs in the third quarter and have continued strongly into the fourth. Monthly Chemical Tanker & Palm Oil Report. Tanker Chartering and Freight Rates - 2023 - Oil and Energy Trends - Wiley Online Library A weekly evaluation of spot activity for chemical tankers cross AG and AG-Eastbound trading routes. The chemical tanker shipping companies have a big responsibility in managing their fleet safely, efficiently, and economically. products and chemical shipping markets, covering all the principle vessel categories, as well as appraisals of shipping He is calculating average daily time charter equivalent (TCE) earnings for non-eco J19-type vessels at between $13,000 and $14,000, with eco ships at between $15,000 and $16,000. Seasonality patterns were analyzed using Kavussanos (Kavussanos and Alizadeh-M, 2002). Report provides crucial industry insights that will help your business grow. Data Spot rates collapsed in the third quarter as some charterers who usually fix their cargoes on contract took advantage of low spot rates. Dry Bulk Newsletter. The research estimates global Chemical Tanker Shipping market revenues in 2024, considering the Chemical Tanker Shipping market prices, Chemical Tanker Shipping production, supply, demand, and Chemical Tanker Shipping trade and logistics across regions. Ownership split between owned, timechartered and vessels in management. Sitemap Terms Aug 2018 – Chemical Tanker Outlook 1 From 2016 because of stronger delivery rates, and in 2017 because of slower demolition, the fleet growth started accelerating again and in 2018 according to the present orderbook a new peak at 4 percent is expected. 7%. Overall, the US chemical tanker freight rates were unchanged the first week of December for several trade lanes, except for the USG-Asia trade lane as spot tonnage remains tight. 39K per day in November 2022 Drewry provided a detailed chemical tanker market outlook with long-term time charter revenue projections to a European-based chemical and product tanker owner-operator. However, due to a recent decline in spot rates, fourth-quarter results are expected to be lower Bunker prices have also been volatile on the back of erratic crude prices, and are subsequently likely to influence freight rates and earnings for clean tanker vessels. Vessel Type. The Drewry WCI composite index increased 8% to $3,803 per feu, which is 63% below the previous pandemic peak of $10,377 in September 2021 but 168% more than the average $1,420 in 2019 (pre-pandemic). This situation also weighed on time charter rates and asset values, especially for the larger chemical tankers. ICIS, as the chemical tanker reporter. There was an uptick on cargoes from various regions to Montreal as shippers work to They are small in size between 5,000 and 25,000-ton deadweight, while there are also several chemical tankers which have a size of about 50,000-ton deadweight. 1500 USD. 0-2. What is the AFRA Despite spot rates softening for chemical and product tankers in recent weeks, owners have still been able to achieve healthy returns, as bunker prices ease at least six months ahead of the spot market declines. Fifty-nine years on, we are proud that this OPEC product continues to In June, the venture raised its chemical tanker rate forecasts for the following 18 months as regional tightness kept pushing up earnings. rates in the chemical tanker shipping sector. The average sailing distance is predicted to increase 7% in 2024 due to ships avoiding the Red Sea and the Suez Canal but fall approximately 5. About; Vision and Values; History; Leadership; Fleet; Sustainability; Accessibility Plan (Canada) Odfjell profits dip quarter-on-quarter as chemical tanker spot market softens. Overall, US chemical tanker freight rates was largely stable this week for several trade lanes, with the exception being the USG-to-Brazil trade lane as that market picked up this week following activity during the APLA conference in Columbia. The China-Latin America trade route faced capacity pressure from soaring demand, with spot They are small in size between 5,000 and 25,000-ton deadweight, while there are also several chemical tankers which have a size of about 50,000-ton deadweight. Meanwhile, the product tankers orderbook for ships 10-59,999dwt has swelled to about 15% of the CHEMICAL TANKER SHIPPING OUTLOOK MIXED The tanker shipping market was a mixed picture during 2021. Chemical Tankers 614 326 343 26 36 1 345 2. 8 Chemical Tanker market coverage. Our tanker 17 Sep 24: Average spot rates on most Intra-Asia container trade lanes weakened again in the first two weeks of September, according to Drewry’s new Intra-Asia Container Index (IACI), launched today. All rates published in this report do not necessarily reflect actual transactions occurring in the market. Our shipping market research is backed by an in-depth understanding of the underlying commodity markets and tracking of global trade flows. , 2018) GARCH-X models have been deployed to forecast the spot and charter rates of tanker freight markets, and it was noticed that oil shocks and oil demand Ocean spot rate benchmarks and forecasts 03 Jul 24: Skyrocketing freight rates in the product tanker market, especially in the LR segment, are luring some charterers to use VLCCs for the CPP trade after tank cleaning. The Norwegian tanker operator is exercising purchase options on ships already sailing on long-term The demand for chemicals worldwide is increasing, and so is the growth rate for chemical and specialised products. Add to Cart. We also renegotiated several time charter agreements at more favorable terms. 1 9. This surge in volume has the potential to push MR spot rates to about $60,000 per day from a maximum of $40,000 per day Platts Market Data –Tankers delivers the numbers you need to gauge your markets, your competition, and your future potential. S. BIMCHEMTIME for Chemical Tankers; BOXTIME 2004 for Container Ships; NYPE (New York Produce Exchange) for Dry Bulk Ships Time charter rates for MR product tankers have risen to their highest level for two years thanks to a strong spot market. 07 billion in 2024 to reach a valuation of USD 42. 20 Dec 2024: In the key East-West trade lanes – Transpacific, Transatlantic, and Also, the increasing demand for bio-based lubricants is likely to boost the growth of the IMO-2 carrier chemical tanker market. A Voyage Charter or Spot Charter involves engaging a ship for a single voyage, where the vessel is tasked to transport cargo from a specific load port or ports to a discharge port or ports within a mutually agreed area. Looking ahead, we do expect that tanker rates have bottomed out in 2021. Certain estimates may be based on prevailing market conditions. Door to Door rate-quotes; About Liquid Bulk Rates From Total Connection. This is to recover high freight rates and full utilization of vessel capacity. The reports concern only liquid chemical cargoes: gases and dry cargoes are not represented. Although ICIS does not assess spot rates from the USG to the Mediterranean, this trade lane has continued to tighten In early econometric modelling studies of tanker markets, an aggregated economic model for understanding the relationship between tanker freight rates, new second-hand prices of ships, and the size of the tanker fleet has been explored (Michael Beenstock, 1989). Overview. 12,300 14,200 12,200 10,300 13,500 11,200 0 5,000 10,000 15,000 Suezmax Aframax LR2) Spot Rates Q4-2021 Q1-2022 To-Date Q1-22 To-Date Spot LIQUID TANKER RATES Overall, the US chemical tanker freight rates were unchanged this week for several trade lanes, except for the USG-Asia trade lane as spot tonnage remains tight. The chemical tanker giant expects its time charter equivalent earnings to fall between 7% and 11% in the fourth quarter, from the $33,355 per day achieved in the third quarter. 5% in 2025 as we assume that ships may be able to return to normal routings. The 1yr TC for a 19,999 dwt ship reached Product tanker rates are showing signs of strength, and have the potential to crush even the records set in 2022—and the number of oil cargoes transiting through the Bab el-Mandeb Strait is falling. The Daily Market Rate Snapshot provides a comprehensive assessment of the market at a glance. 2021 saw abundant open prompt space on most routes in and out of Europe and rates were holding at It has led to more sea trade, longer routes, the need for more tankers, and higher freight rates for tankers. Special team is serving the specialised tanker industry globally and has an overview of the entire global fleet of chemical and other special tankers in our size segments – approximately 6,200 vessels. The report also includes newbuilding, deliveries, demolition, and sale and purchase markets, providing an important summary for Teekay Marine Markets, Tanker Update Watch this space for Teekay's regular update on the tanker market. Greece-based Avin International and Kriti Ruby Special Maritime Enterprises, the operator and registered owner of the Greece-flagged tanker Kriti Ruby, were ordered to pay a combined $4. 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